Another jump sees petrol near Rs250 – Business

• New warehouse transfer rates for HSD and LDO are Rs276.54 and Rs226.15 per liter.• The country’s fuel consumption has increased by 20% in the last two months despite rising prices.• Miftah says oil levies were applied to revive a halted IMF loan program. ISLAMABAD: As promised by the International Monetary Fund (IMF), the government … Read more

PSX crashes after PM Shehbaz announces ‘super tax’ on industries – Business

The Pakistan Stock Exchange (PSX) plummeted minutes after Prime Minister Shebaz Sharif announced a 10% tax on large industries. The exchange remained unchanged two hours after the opening bell rang. However, at 11:40 a.m., the KSE-100 plunged 1,598 points to 41,100. As of 12:00 PM, the KSE-100 index fell 2,053 points (4.8%). Depending on the … Read more

Dollar continues upward march, closes above Rs208 – Business

The US dollar continued its gains as it closed above 208 rupees in the interbank market on Friday. Trend analysts attribute the delay to transactions with the International Monetary Fund (IMF) and the rapid depletion of foreign exchange reserves. The US dollar rose 95 pie to Rs208.70 from yesterday’s close of Rs207.75, according to the … Read more

Fintech Dastgyr raises $37m in Series A round for biggest investment yet at this stage in Pakistan – Business

Dastgyr, a Karachi-based B2B marketplace that connects suppliers and small retailers, announced on Tuesday that it had raised $37 million in Series A funding (the first round of funding for new businesses since seed capital) for its biggest investment. Still in Pakistan at this stage. According to the press release, the round was led by … Read more

ECC okays Rs13 per unit raise in power tariff – Business

ISLAMABAD: With two major fuel suppliers desperately in desperate need of $2 trillion of liquidity in three months, the government has cut electricity rates by an average of Rs 13 per unit in quick installments to secure an urgently needed bailout package. started to deliver. from the International Monetary Fund (IMF). A source in a … Read more